Pinterest Target of Unusually Large Options Trading (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) was the recipient of some unusual options trading on Monday. Investors purchased 73,157 call options on the stock. This represents an increase of approximately 85% compared to the typical daily volume of 39,579 call options.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, November 11th. UBS Group dropped their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Finally, TD Cowen began coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.65.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,287 shares of company stock worth $1,547,820 over the last quarter. 7.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Brown Shipley& Co Ltd acquired a new position in Pinterest in the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest during the second quarter valued at $26,000. GAMMA Investing LLC grew its holdings in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Rothschild Investment LLC acquired a new position in Pinterest during the second quarter valued at $35,000. Finally, V Square Quantitative Management LLC purchased a new stake in Pinterest in the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Up 2.4 %

PINS opened at $33.07 on Tuesday. The firm has a market cap of $22.35 billion, a PE ratio of 110.24, a P/E/G ratio of 2.28 and a beta of 1.02. The business has a fifty day simple moving average of $31.79 and a 200-day simple moving average of $34.91. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.